Pakistan
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Pakistan imports goods worth $1.62b from India | The Express Tribune
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[ad_1] ISLAMABAD: Despite tense relations, Pakistan has imported goods worth $1.62 billion from India during the last five years. This was disclosed to the Standing Committee for Trade by officials of the commerce ministry who said this had occurred despite the fact that trade had been halted with India. According to documents, Pakistan had bought…
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Pakistan ‘making good progress’ for IMF $7bn loan deal approval in September: FinMin
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[ad_1] Finance Minister Muhammad Aurangzeb presents Federal Budget 2024-2025 before the National Assembly. — INP/File Finance Minister Muhammad Aurangzeb has said that the government hopes to get approval for a new $7 billion loan programme from the International Monetary Fund’s (IMF) board in September, saying that its engagement with the Fund is progressing well. “We…
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Pakistan can save up to Rs50bn if citizens endure two-hour of loadshedding: energy minister
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[ad_1] A representational image depicting loadshedding in a residential area of Pakistan. — AFP/File ISLAMABAD: Energy Minister Awais Leghari on Tuesday said that if the citizens could endure two-hour of load shedding daily, the government could save up to Rs50 billion. Addressing the National Youth Convention here, the minister admitted the electricity tariffs in Pakistan…
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Pakistan has the most expensive electricity in the region: Energy Minister | The Express Tribune
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[ad_1] Listen to article The Federal Minister for Energy, Awais Leghari, acknowledged that the country has the highest electricity costs in the region, stating that the government is working towards resolving issues related to Independent Power Producers (IPPs). Speaking at the National Youth Convention in Islamabad, Awais announced that within one to two months, the government, in…
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Fuel price adjustment mechanism recommended for gas bills in Pakistan | The Express Tribune
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[ad_1] A committee tasked with addressing issues in the petroleum sector has recommended introducing a fuel price adjustment mechanism in gas bills, similar to the one in electricity bills. The decision was made during a meeting chaired by Deputy Prime Minister Muhammad Ishaq Dar, where challenges faced by exploration and production (E&P) companies were discussed.…
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‘Shipping giant to invest $2bn in Pakistan’
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[ad_1] A representational image of containers. — Reuters/File Ahead of his visit to Denmark, Minister for Maritime Affairs Qaiser Ahmed Sheikh on Saturday said that Danish shipping company Maersk will invest $2 billion in Pakistan’s port and transport infrastructure over the next two years. “This significant investment will contribute to the development of infrastructure,” said…
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Gold prices hit record highs in Pakistan amid global market surge | The Express Tribune
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[ad_1] Gold prices hit an all-time high on August 16, 2024, propelled by a weaker US dollar and expectations of a potential interest-rate cut by the Federal Reserve. The metal’s appeal was further amplified by ongoing geopolitical tensions, particularly in the Middle East, which heightened demand for safe-haven assets. Spot gold increased by 1.7% to…
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Electricity bills in Pakistan to surpass house rents: Bloomberg | The Express Tribune
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[ad_1] Listen to article PAKISTAN: A Bloomberg report has revealed that electricity bills in Pakistan have now exceeded the cost of household rent, considering that electricity prices surged by 155% since 2021. According to the report, the tariff increase has driven electricity costs above the average rental rates for homes. The report attributes the soaring inflation to…
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Pakistan, Turkiye vow to expand trade | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan and Turkiye reaffirmed their commitment to enhancing bilateral relations and increasing trade volume during a meeting on Thursday between Turkish Trade Minister Prof Dr Omer Bolat and Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb. The meeting was marked by a discussion on the enduring brotherly relationship between the two nations…
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Industrialists call for urgent reforms to rescue Pakistan Post | The Express Tribune
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[ad_1] KARACHI: Industrialists have urged the revitalisation of the Pakistan Post Office, stressing that with useful reforms, the institution could become profitable again. They stated that the Post Office is currently facing severe challenges due to prolonged neglect, mismanagement, and corruption. Despite offering essential services such as communication, remittances, and postal deliveries, the department is…
